Global Ultracapacitor Market size is projected to be valued $41 Billion by 2024; with a CAGR of 9.2% from 2017 to 2025. An ultracapacitor is an electrical component which has a capability of holding hundreds of times more electrical charge than a normal capacitor. It has a simple and fast charging method with no overcharging and is extensively used in electrical smart meters. Electrical smart meters are the major driver for ultracapacitor market.

Rapid electrification in vehicles and rise in demand for ultracapacitors in hybrid powertrain systems and regenerative braking are the major factors driving the global ultracapacitors market. However, high production cost is a major challenge for the market players. Use of ultracapacitor in electric turbocharger would generate new business opportunities for the market in the near future.

Based on geography, ultracapacitor market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into China, Japan, India, Australia, Singapore, Hong Kong, and others while RoW is bifurcated into South America, Middle East, and Africa.

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